| Schedule of operations in different segments |
Information about the Company’s operations in different segments for the three months ended June 30, 2026 is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Income Properties | | Management Services | | Commercial Loans and Investments | | Total | Revenues: | | | | | | | | | | | | | Income Properties | | $ | 37,136 | | $ | — | | $ | — | | $ | 37,136 | Management Fee Income | | | — | | | 1,466 | | | — | | | 1,466 | Interest Income From Commercial Loans and Investments | | | — | | | — | | | 5,229 | | | 5,229 | Total Revenues for Reportable Segments | | $ | 37,136 | | $ | 1,466 | | $ | 5,229 | | $ | 43,831 | | | | | | | | | | | | | | Operating Expenses: | | | | | | | | | | | | | Income Properties | | $ | (11,126) | | $ | — | | $ | — | | $ | (11,126) | Total Revenues Less Direct Costs of Revenues | | $ | 26,010 | | $ | 1,466 | | $ | 5,229 | | $ | 32,705 | Provision for Impairment and Adjustment to CECL Reserve | | | — | | | — | | | (1,084) | | | (1,084) | Depreciation and Amortization - Real Estate | | | (15,831) | | | — | | | — | | | (15,831) | Total Revenues Less Operating Expenses for Reportable Segments | | $ | 10,179 | | $ | 1,466 | | $ | 4,145 | | $ | 15,790 | Gain on Disposition of Assets | | | 2,107 | | | — | | | — | | | 2,107 | Net Income From Operations for Reportable Segments | | $ | 12,286 | | $ | 1,466 | | $ | 4,145 | | $ | 17,897 | | | | | | | | | | | | | | Reconciliation to Consolidated Net Income | | | | | | | | | | | | | General and Administrative Expenses | | | | | | | | | | | | (4,630) | Investment and Other Income | | | | | | | | | | | | 10,765 | Interest Expense | | | | | | | | | | | | (7,783) | Depreciation and Amortization - Other | | | | | | | | | | | | (16) | Net Income Before Income Tax Expense | | | | | | | | | | | $ | 16,233 | Income Tax Expense | | | | | | | | | | | | (1,121) | Net Income Attributable to the Company | | | | | | | | | | | $ | 15,112 |
Information about the Company’s operations in different segments for the three months ended June 30, 2025 is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Income Properties | | Management Services | | Commercial Loans and Investments | | Total | Revenues: | | | | | | | | | | | | | Income Properties | | $ | 33,375 | | $ | — | | $ | — | | $ | 33,375 | Management Fee Income | | | — | | | 1,247 | | | — | | | 1,247 | Interest Income From Commercial Loans and Investments | | | — | | | — | | | 3,016 | | | 3,016 | Total Revenues for Reportable Segments | | $ | 33,375 | | $ | 1,247 | | $ | 3,016 | | $ | 37,638 | | | | | | | | | | | | | | Operating Expenses: | | | | | | | | | | | | | Income Properties | | $ | (10,178) | | $ | — | | $ | — | | $ | (10,178) | Total Revenues Less Direct Costs of Revenues | | $ | 23,197 | | $ | 1,247 | | $ | 3,016 | | $ | 27,460 | Depreciation and Amortization - Real Estate | | | (15,277) | | | — | | | — | | | (15,277) | Total Revenues Less Operating Expenses for Reportable Segments | | $ | 7,920 | | $ | 1,247 | | $ | 3,016 | | $ | 12,183 | Net Income From Operations for Reportable Segments | | $ | 7,920 | | $ | 1,247 | | $ | 3,016 | | $ | 12,183 | | | | | | | | | | | | | | Reconciliation to Consolidated Net Loss | | | | | | | | | | | | | General and Administrative Expenses | | | | | | | | | | | | (4,448) | Investment and Other Loss | | | | | | | | | | | | (3,687) | Interest Expense | | | | | | | | | | | | (6,859) | Loss on Extinguishment of Debt | | | | | | | | | | | | (20,396) | Depreciation and Amortization - Other | | | | | | | | | | | | (17) | Net Loss Before Income Tax Expense | | | | | | | | | | | $ | (23,224) | Income Tax Expense | | | | | | | | | | | | (194) | Net Loss Attributable to the Company | | | | | | | | | | | $ | (23,418) |
Information about the Company’s operations in different segments for the six months ended June 30, 2026 is as follows (in thousands): | | | | | | | | | | | | | | | Income Properties | | Management Services | | Commercial Loans and Investments | | Total | Revenues: | | | | | | | | | | | | | Income Properties | | $ | 73,716 | | $ | — | | $ | — | | $ | 73,716 | Management Fee Income | | | — | | | 2,815 | | | — | | | 2,815 | Interest Income From Commercial Loans and Investments | | | — | | | — | | | 8,473 | | | 8,473 | Total Revenues for Reportable Segments | | $ | 73,716 | | $ | 2,815 | | $ | 8,473 | | $ | 85,004 | | | | | | | | | | | | | | Operating Expenses: | | | | | | | | | | | | | Income Properties | | $ | (21,294) | | $ | — | | $ | — | | $ | (21,294) | Total Revenues Less Direct Costs of Revenues | | $ | 52,422 | | $ | 2,815 | | $ | 8,473 | | $ | 63,710 | Provision for Impairment and Adjustment to CECL Reserve | | | — | | | — | | | (763) | | | (763) | Depreciation and Amortization - Real Estate | | | (31,769) | | | — | | | — | | | (31,769) | Total Revenues Less Operating Expenses for Reportable Segments | | $ | 20,653 | | $ | 2,815 | | $ | 7,710 | | $ | 31,178 | Gain on Disposition of Assets | | | 2,107 | | | — | | | — | | | 2,107 | Net Income From Operations for Reportable Segments | | $ | 22,760 | | $ | 2,815 | | $ | 7,710 | | $ | 33,285 | | | | | | | | | | | | | | Reconciliation to Consolidated Net Income | | | | | | | | | | | | | General and Administrative Expenses | | | | | | | | | | | | (9,707) | Investment and Other Income | | | | | | | | | | | | 14,008 | Interest Expense | | | | | | | | | | | | (15,054) | Depreciation and Amortization - Other | | | | | | | | | | | | (34) | Net Income Before Income Tax Expense | | | | | | | | | | | $ | 22,498 | Income Tax Expense | | | | | | | | | | | | (1,181) | Net Income Attributable to the Company | | | | | | | | | | | $ | 21,317 |
Information about the Company’s operations in different segments for the six months ended June 30, 2025 is as follows (in thousands): | | | | | | | | | | | | | | | Income Properties | | Management Services | | Commercial Loans and Investments | | Total | Revenues: | | | | | | | | | | | | | Income Properties | | $ | 65,047 | | $ | — | | $ | — | | $ | 65,047 | Management Fee Income | | | — | | | 2,425 | | | — | | | 2,425 | Interest Income From Commercial Loans and Investments | | | — | | | — | | | 5,977 | | | 5,977 | Total Revenues for Reportable Segments | | $ | 65,047 | | $ | 2,425 | | $ | 5,977 | | $ | 73,449 | | | | | | | | | | | | | | Operating Expenses: | | | | | | | | | | | | | Income Properties | | $ | (19,069) | | $ | — | | $ | — | | $ | (19,069) | Total Revenues Less Direct Costs of Revenues | | $ | 45,978 | | $ | 2,425 | | $ | 5,977 | | $ | 54,380 | Depreciation and Amortization - Real Estate | | | (29,623) | | | — | | | — | | | (29,623) | Total Revenues Less Operating Expenses for Reportable Segments | | $ | 16,355 | | $ | 2,425 | | $ | 5,977 | | $ | 24,757 | Net Income From Operations for Reportable Segments | | $ | 16,355 | | $ | 2,425 | | $ | 5,977 | | $ | 24,757 | | | | | | | | | | | | | | Reconciliation to Consolidated Net Loss | | | | | | | | | | | | | General and Administrative Expenses | | | | | | | | | | | | (9,131) | Investment and Other Loss | | | | | | | | | | | | (3,112) | Interest Expense | | | | | | | | | | | | (12,995) | Loss on Extinguishment of Debt | | | | | | | | | | | | (20,396) | Depreciation and Amortization - Other | | | | | | | | | | | | (35) | Net Loss Before Income Tax Expense | | | | | | | | | | | $ | (20,912) | Income Tax Expense | | | | | | | | | | | | (245) | Net Loss Attributable to the Company | | | | | | | | | | | $ | (21,157) |
Capital expenditures of each segment for the three and six months ended June 30, 2026 and 2025 are as follows (in thousands): | | | | | | | | | | | | | | | For the Three Months Ended June 30, | | For the Six Months Ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Capital Expenditures: | | | | | | | | | | | | | Income Properties | | $ | 65,486 | | $ | 195 | | $ | 150,854 | | $ | 81,059 | Commercial Loans and Investments | | | 107,287 | | | 4,974 | | | 112,579 | | | 6,405 | Corporate and Other | | | 11 | | | 13 | | | 11 | | | 25 | Total Capital Expenditures | | $ | 172,784 | | $ | 5,182 | | $ | 263,444 | | $ | 87,489 |
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